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January blues? 5 Reasons why Contractors should be looking forward to 2014

January blues? 5 Reasons why Contractors should be looking forward to 2014

Michelle Derungs

Monday 6th Jan, 2014

1. Rising demand for contractors

Towards the end of 2013 the demand for contractors continued to increase across a wide array of industries, especially for those in the IT sector. The increase in demand is forecast to continue to grow, with the potential to accelerate during 2014.

2. Economic improvement

The Economic outlook in the UK has continued to grow, with the British Chambers Of Commerce highlighting the GDP growth being between 0.6% to 09.% in 2013, to 1.7% - 1.9% in 2014 and an even sharper increase of 2.2% -2.4% in 2015.

The increase in job opportunities alongside manufacturing & IT investment further highlight the UK's steady break away from the recession.

3. Contractor rates increase

Over previous years contractor rates have remained very similar. However, the Royal Bank of Scotland's Report on Jobs have indicated that the figure for temporary rate of pay has increased in recent months. It is only since 2013 onward that contractors have been able to demand a higher rate for their services.

4. There is a rising demand for highly skilled labour

There has been an increased demand for highly skilled contractual labour, this is especially true in the oil and gas, manufacturing and engineering industry. With advances in technology and the growing skills gap for highly trained labour, contractors have an ideal opportunity to step in and fill the gap. More information regarding the skills gap can be found here.